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KFH's takeover of AUB set to take place in May

KFH's takeover of AUB set to take place in May
The acquisition deal will be executed on 18 May
KFH
KFH
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AUB
AUB
0.00% 0.59 0.00

Mubasher: Kuwait Finance House (KFH) announced that the initial offering of its acquisition offer for 100% of Ahli United Bank (AUB) capital shares will begin on 26 March 2020 until 15 April 2020, and could be extended. 

The acquisition is set to be executed on 18 May, according to a stock exchange filing on Sunday.    

Trading the shares of AUB on Bahrain Bourse (BHB) will be suspended on 23 March, KFH highlighted, adding that the Bahraini bank’s shares will be registered on BHB and Boursa Kuwait on 24 March and 25 March, respectively.

It is noteworthy that KFH officially submitted the document for the said acquisition offer in line with the requirements of the regulatory authorities in Kuwait and Bahrain.